Forex or foreign exchange or simply FX, are terms used to represent the many world currencies being traded in the market. There is no single central forex market in Kenya, or the world. The foreign exchange market is more like an over the counter market and trading typically happens between two people/companies directly. You can trade currencies over the phone, or through the Internet from the world over. Some of the main forex trading centers are New York, London, Frankfurt, Sydney, and Tokyo. Due to these worldwide located hubs, the forex market pretty much trades around the clock.
What is Forex Trading?
Forex trading in Kenya or anywhere else in the world, is the buying and selling of a combination of two currencies simultaneously. This combination of trading currencies is known as ‘cross.’ For example: you can buy the Euro and sell the US dollar or you can buy Japanese yen and sell the GB pound or any other combinations. However, there are some currencies that are traded more often than others. These combinations of currencies, “crosses”, are known as ‘majors’ and include EURUSD (Euro-USD), USDJPY (USD-Yen), and GBPUSD (Pound-USD).
Another thing to remember when trading foreign exchange is that the forex market’s maximum volume of trade is known as the ‘spot market’. This is because the various trades get settled on an immediate or “on-the-spot” basis here. Typically, immediate means 2 banking days.
So How Do You Make Money?
Well, you make money by trading: buying low and selling high. One of the simplest ways to do this is by ‘forward outrights’.
Forward Outrights – simply put, this is a contract to buy an agreed amount of a certain currency at a future date and at a fixed price. For example, you could agree to buy $1,000 next month at Kshs 76 per dollar. When next month comes, if the dollar has risen to, say, Kshs 78 per dollar, then you can buy 1,000 dollars at 76 and selling them at 78, making Kshs 2 per dollar. It’s a gamble but can pay off quite well.
In the past, foreign exchange trading required huge amounts of money to start and was only for the “big boys”. However in the 1980s the rules were changed, and now even individuals can trade forex profitably and fairly easily. One major improvement is margin accounts.Basically, having a 100:1 margin account means that you can control $100,000 using only $1,000 of your own money. That said, ofrex trading is not always a smple affair. Every aspiring forex trader has to educate himself in order to make goos investment decisions. Once started, the trading is not difficult. But it is risky.
Why Trade Forex?
The advantages of trading forex and making money online are many. Some of these are:
- Around the clock trading – You can trade from Sunday evening 20:00 GMT to Friday evening 22:00 GMT.
- Higher Liquidity – You will always find buyers and sellers to trade FX with. The high market liquidity helps in stabilizing the price and narrow down the spreads.
- No commissions – Most forex trade is done without commission. This is one of the main reasons for foreign exchange trading being such as wonderful online money making choice for people in Kenya or the US.
How to Start Trading FX
To start trading, all you need a FX account with funds to buy forex and a PC with a good speed Internet connection. For beginners, we recommend sharpening your trading skills by opening a demo account with a good FX trading company. The account is free and allows you to ‘play’ with your funds to learn the trade. You can get a free practice account here or here.
In order to minimize your risks and maximize your gains, research extensively on the subject and use proper trading tools only. Do not hesitate to ask us for more information. Good luck. 🙂
Hi
In my opinion good forex means good anticipation. The key for making profits, short or long term, is consistency.
A good Forex robot or signal program needs over 70-80% success rate and it has to be very easy to understand. Greed is one of the worst enemies for profits and in my opinion if you don’t follow the basic rules of trading you’ll soon lose your money.
Big fluctuations can occur from time to time in the forex market and to be safe you need to learn how to spot them.
To find out more about how you can make real money in the Forex market follow my signature.
Excellent article, bookmarked for future referrence
I am a professional forex trader based in Nairobi Kenya.I strongly agree that online forex trading is a great money making choice. Forex trading is my core business and it has given me very high returns.
I also train interested clients in online forex trading for a duration of two weeks at a negotiable fee.
Please feel free to contact me via email goldrushforex@yahoo.com or cell 0724642468 for more information.
What format does your training take?
The online forex training duration is two weeks for two hours per day. The time of the training is agreed as per the client’s convenience. The training is on a one on one basis and the fee is affordable and negotiable. For more information please contact me on cell 0724642468 or email g3ruth@yahoo.com
Many people claim to be pro-traders,while in the actual fact they are just gambling,anybody trading any thing below 1hr time frame is purely gambling,coz there is a lot noise in those time frames.Also you will never make smart money trading news,by the time you receive the news ,the market has already discounted it and moved on .Trade the like the big ‘dogs’-the banks.
Boss, you don’t know what you are talking about, whether a pro or a scalper people make money. i scalp on low time frames, sometimes as low as 1min n i make $2000 a day. If a technique doesn’t suit you do not criticize it, ignore it.
Besides lower time frames help eliminate the risks involved in big fluctuations.
hi ruth am intrested in a money making venture am jus out of college and need to make somthing to sustain me. can you help me with trading in forex so i can make some money?
my email adress is denisbett@yahoo.com
plesae help me with the details
Online forex is the only recession proof business of the 21st century. I have been trading forex as my full time job since 2008 and believe you me, this is one sure way to making great wealth. I also offer training services with fully comprehensive and up to date practical forex information. Any interested party can contact me and i will reply with more information on the mode, duration and cost of training.
If you want, you can write a nice article on online fores and send it to us – we’ll publish it here. May get you some business 🙂
Hello Moses, your comment is quite encouraging. Do you have online lessons? I would wish to be trained. My contact is 0734623271 and muragadavis@rocketmail.com. Please give me the details of your course.
what is the minimum amount that I can invest in the online forex?
The minimum amount to invest in the forex market depends on your preferred broker. The minimum amount ranges from as little as $25 – $500. Note: The higher the investment the higher the returns or losses and vice versa. For more details feel free to contact me via email g3ruth@yahoo.com or cell 0724642468.
Thanks for helping out with the info
can i open an auto trading?
Yes you can. But for that you require a higher amount of investment approximately $1,000 with most of the legitimate brokers.
whats ur advise?i did forex but didnt finish the course
You should finish up the training if you really want to venture into this business. Its highly risky hence you need all the tactics at hand to make wining trades. If you’re interested i can assist on training you on the rest of the course.
Ruth, thanks for your useful replies.
Yes I agree that forex trading is a profitable venture but you shonld also not forget that it comes with its risk Its always good to consult and get good training before getting in to it. Forex trading isnt a hyip or a get rich quick scheme. I must say here that forex trading if done well can employ you fulltime with good pay. So dont take risk alone we are there for you to make sure that you trade profitably.
What is a forex bullet proof robot? I got an email about it but I dont understand.
Interesting read…….am not picking on anyone but forget the robots…..forget all that shit sold by guys on the internet……..learn to trade by yourself…….design your own method/strategy and stick with it….if you looking at lower time-frames……..be sure to follow the news, if you looking at larger time-frames (where the money is) then forget the news except Interest rates and NFP……..i trade the 8hr and daily timeframes and have a sound and solid method for the 1-hr time-frame…………also FORGET THOSE STUPID SILLY LAGGING indicators…………….because u need to ask yourself this question…….Do the main players use these silly stupid indicators………NO they do not…so why should you……………….and most important………..PATIENCE, PATIENCE my people………otherwise u DOOMED………………..anyone saying they will teach u how to trade Forex and and the lessons include INDICATORS please run but first ask for your money back………..you need to learn how to read charts using PRICE ACTION……………if you think am cheating……..try your soo called Stochastic, MACD etc etc……………..the only indicator i use is the MACD because it forms patterns that have a meaning when combined with PRICE ACTION………………anyone heard of MACD Trend Continuation Pattern………………….
Wow, my friend, very well put there.
True Kevin, it is just that i also go conned with some Forex Education where i was taught nothing but Indicators…tried them, lost quite abit of cash in Dollars……..to a point even the teacher agreed that they are a waste of time…….so i asked her………..WHY THE HELL ARE YOU TEACHING US INDICATORS THEN? Caught her off guard………….we never have been friends again………………………hehehehehehe…so, do you trade?
Nope I don’t trade Forex myself. I consider it a bit of a gamble – not that there is anything wrong with that, its just that I prefer making money in other ways. 🙂
Please also respond to this directed at you: http://likechapaa.com/2009/10/forex-trading-in-kenya-%e2%80%93-an-introduction/#comment-3801
Hi kasasis,
indicators are good but you just need like a maximum of 3. you can try the 27 forex trading rules strategy and see what you get. Remeber that indicators measures peoples psychology i.e how low or how high are people willing to bet forex prices. There is nothing more or less to that. Once you understand that, the next thing will be not trade indicators but to interprete the information given by the indicators. In simple words, to put some logic behing the image of the indicators.
Hope that works for you.
patrick
I am still going strong in this market. I am glad to see that there are so many people here in kenya who are now eager to learn. For the beginners I advice you to start with understanding technical analysis first and not to pay too much attention to fundamental analysis since the technical will always picture what is happening with the fundamentals. After you are through with the technical and you are good in it, you can be listening to what is happening on the side of fundamentals so that it can give you an added advantage. Those of you looking for free lessons you can get them from http://www.kenyaforexanswers.com/ wish you all great success.
as much as you may try to criticize indicators… my friend that’s how i make my money. Next time encourage people to use ur method without having to criticize the other. i like how u started it off “learn to trade by yourself…….design your own method/strategy and stick with it…”
mike from naks,i know the basics all i want to know is price action trading/raw trading,i want to trade like the big dogs-the banks.
Mike.. Let me show you what the BIG DOGS are using to Legally steal small newbie traders all their money. The likes of popular brokers such as FXCM, FXDD and others are using this systems see : https://kpaypal.zulutrade.com I recently saw 3 best performing account belonging to fxcm and the combination of systems used to trade each account I hope you will get the opportunity too.
hi mike i have been trading fx for a long time and i think i can help.am located in naks.contact me.
HEHEHEHE My friend kasasi it looks as if you don’t believe in trading robots at all. For the seven years i have been in forex trading and my programming background i can tell you without contradiction that every trading strategy and be programmed to do exactly what you do in your manual trading and work flawlessly and with more efficiency.
I CAN BET 2000 USD IF YOU CAN CHALLENGE ME WITH A STRATEGY THAT CAN NOT BE TRANSFORMED TO A ROBOT.
I program in mt4 language for Meta-trader I have seem it all. However I would like to warn all forex trader not to just go about buy any other robot online you need to do extensive research about the system and ever contact people with better understand of trading systems to safe guard your investment. I must appreciate the evolution of trading systems monitoring since 2007 to date, a lot has changed and even expecting better days in future.
Man semeni! it feels good to know there is a homecountry fx site,mnaeza anzisha chat room?
Its good to know a Kenyan forex traders website.
wow guys now who tells the truth
..can I trust Kasasi..? I would like to join forex trading but I don’t want to fall to scams. So Kasasi can we talk on otienoflavia@gmail.com
Well, Caleb, you do not need to trust me, no one should even trust what i say, you need trust yourself. As regarding talking to me about FX, am not sure what it is you want to talk about? I do not train people and never will.
All i can say is………….read babypips and understand it, and by the way ignore the indicators part and after that look for a Trend Trading forum on forexfactory (i can help with this if interested)…………and build your patients…..if you planning to be rich in a short time……..then WELCOME TO FRUSTRATIONS………you need to view Forex as a long term investment business…………cheers all……………..
Looking for FULL TIME traders, I have lots to share!
I am one of them doing it full time and training on the side. Please share. My email is g3ruth@yahoo.com
Here I am, lets share!
My email is clare.oparo@gmail.com
Drop line… mmockayah@yahoo.com
Am also a professioal trader very young 21years and i have been trading for past one year and is very very very profitable and i would love to train anyone willing to learn FOR FREE since forex is a blessing fro God to me and a gift which i would love to freely give to another person some where to benefit.
kindly assist me.i paid someone to train me on forex but vanished in the middle of the training.atleast i learnt some basics.can i count on u to assist me kevin?
its ok,just contact me and we make an appointment.my no is 0726485997.God bless.
Hi Kevin, Im shaq from Nairobi. Ive recently read about forex trading and wanted to give it a try. Going by the stories ive heard, people have either lost or made cash. I believe this is normal in business provided you do your research well. can you assist me or recomend someone for the training part since I wouldnt mind doing it full time. Im not financially stable but i am willing to pull resources for this. my e mail address is shaqomosh97@ yahoo.com. Be blessed.
Hi Kevin. Thanks for the positive and confident words. Would wish to get some insights from you. Could you please give me your contacts?
Davis
To Kevin again about the above comments.
My email number is muragadavis@rocketmail.com.
Davis
hi there
i read this blog and find it interesting am a newbie forex trader actually i have been trading
for just 2 weeks and am making good profit and i can tell you the simpler the strategy the better you are. you can actually learn to trade the market and be profitable in just a day,
just buy when low and sell when high
thse who say forex is a gamble-kasasi you say u dont use indicators, how do u know where the prices are headed? are u gambling? I personally have been trading forex for the last 7yrs and trust me, you’ve got to know alot to do this from indicators to geo-politics/politics(not kenyan) to the news- forexlive,reuters,bloomberg etc. You’ve also got to have gutts to seeing your investment halve(from Warren Buffet)
Dude, u just said it all. I wonder how one can trade without the help technical and fundamentals. They are “Kenyanizing” forex… They will be doomed to kingdom come!
I am looking for someone who offers the service of managing my investment in Forex.Anyone?Please give me the minimum requirements and your contact details
Great discussion Kenyans. In Kenya and contemplating forex trading. Whoaaaa! 🙂
i believe that every form of business is a gamble for as long as you speculate high returns and the possibility of loss. I would advice anyone interested in the forex trading not to view it as more of a gamble like Casino stuff.
This is what happens in Wall Street New York where the hub of stock markets and forex trading platforms are found with people actually working behind PCs displaying Stock and Forex Market charts. Lets not be dismayed by the fallacy that online forex trading is a gamble.
I am intrigued by the colossal number of interested and actual online forex traders in kenya. i have a two years experience of the online forex trading and its quit an investment. Online forex trading is lucrative.
Finally,the knowledge of technical indicators is vital but the application and execution is what counts. You cannot use all the indicators available in your chosen platform’s trading software. Pick a few and use them for some time to perfect your skill. Decide your trading strategy based on time chartse.g 1 min chart, 4hr chart, i day chart…etc.
All the best folks.
P.s I like this site and the discussion so far.
Isnt it beautiful to see a Kenyan Forex forum being born.
Could some one who has been trading a while recommend a broker to me. I have paralysis picking one as there are a lot of them trading against their customers.
That depends on a lot i.e which demo platform have u been using, how much your initial deposit is etc.
Personally GFT UK does it for me, they are very professional and their platforms are all simple to use. You could also look into FxPros and Etoro
am paul and i live and work in mombasa.i know a little bit about forex trading.i would like to learn more from proffessional traders but am hindered by my work schedule and distance since most traders are in nairobi.does anyone of pro in msa who can help?i would to quit my day job one day and thanks to this site av come to believe anything is possible in kenya after all if other kenyans are profiting from fx trading why not me?thanks folks!
I am in msa and i need smone experienced online traders to train me.I personally have worked in a forex br as a teller 4 quit long but nw i need to lean abt online trd fx. Plz contact me via emai : nmohammednagib@yahoo.com
It will b best if the trainer is in msa.Email me if there is one exprncd online trader in Msa: nmohammednagib@yahoo.com.looking fwrd 4 feedbacks.thank you.
Ruth are you there 2 assist me plz or any 1.
Hi. You can check your email on the online forex details. Thank you.
mohamed! hav u got some assistance on forex online. Am offering services on account management. I trade for u on your personalaccount n pay me from your account. All on your account. If interested call me on +254724743108 or drop me a mail on my email address fxbucks83@yahoo.com.
Hi,
i have been considering taking up this venture since i have limited finances, any advices on what to do or not to do???i am trying out these dummy accounts to familiarize myself with the whole system but i would appreciate any good info……especially any good online fx trader and other info….my email is tweri21@gmail.com.
What happens in Wall Street New York? where the hub of stock markets and forex trading platforms are found with people actually working behind PCs displaying Stock and Forex Market charts. Lets not be dismayed by the fallacy that online forex trading is a gamble.
I am intrigued by the colossal number of interested and actual online forex traders in kenya. i have a two years experience of the online forex trading and its quit an investment. Online forex trading is lucrative. got some assistance on forex online.
FOREX IS LIKE ANY BIZ. You make money when you sell something at a higher price than what you bought it for. For those who can an article on Daily Nation Tuesday March 13, 2008 can have a lot on wading into the uncharted waters of on-line forex trading. Understand the unique rules that apply to it. The goal is to have bigger wins than losses. There is no gambling involved, successful trading is a business of probability based on past price action.
What happens in Wall Street New York? where the hub of stock markets and forex trading platforms are found with people actually working behind PCs displaying Stock and Forex Market charts. Lets not be dismayed by the fallacy that online forex trading is a gamble.
I am intrigued by the colossal number of interested and actual online forex traders in kenya. i have a two years experience of the online forex trading and its quit an investment. Online forex trading is lucrative. got some assistance on forex online. Am offering services on account management. I trade for u on your personal account n pay me from your account on commission agreement. All on your account.
5. Less Time Trading: There are only about 35 tradable news releases a month, and out of these 35 releases, you’ll probably get 50% giving you a tradable release figure. So the tradable ones could take up to 2 hours per trade, but the untradeable ones should only take 15 minutes of your time. Therefore, you are averaging less than 40 hours of trading a month, or about 10 hours a week. While making probably the same amount of money you’d be making trading 16 hours a day.
At the end of the day, it is not about the amount of time you spend trading, or if you used technical analysis or fundamental analysis. It is about what’s left in your account. By concentrating only on news trading, you are looking at the simplest way and probably the most profitable way that I know of, in Forex trading
Those wondering what is wrong with the kenyan shillings, kindly read daily nation paper dated 29/09/2011 page 30. You will know how liquid forex online is growing. Back in 1999 private traders were were blamed for trading on line. The central bank act part 33 does not restrict online trading so the free fall of the shilling, currently the CBK is blaming the commercial banks and the blame goes on but the shilling will continue to weaken aganist U S $. Do your research which market is most liquid on earth.
Good to know, Kennedy {about the CBK Act}!
Was ‘shopping’ for a multi-currency current account yesterday , and it was kinda hectic.
>I have gotten a little greedy lately about the VISA guys’ currency conversion margin from the Majors into KES, and was seriously considering closing in on it, with an account that goes Foreign Currency full throttle. Not one that is open to them by conversion upon deposit and again back to the Majors at withdrawal.
Not that there aren’t banks that offer such accounts (well 2 out of the 4 major banks I went to did), but generally everyone seemed petrified to even discuss it , citing CBK.
>”…imetukalia siku hizi juu ya Somalia na piracy..”
>Am not even close to paralegal and so I was not sure of what the Law thinks of our hallowed trade around here, let alone interpreting it in kawaida ambiguous lawyer-speak and so after sizing up my very awkward position I must say (risk management ama damage control, not sure which), I just kept enquiring about the account I WANTED, and if they had one that fitted my description!
Be warned my fellow countrymen that this can be interpreted in a MYRIAD of ways, most of which will get you funny looks in banking halls!
>The ‘opening accounts’ guys were always referring me to their forex dept ‘specialists’ in a huff telling them to ask me what I REALLY WANT!
One of them of them couldn’t get herself to giving me details of their Dollar account they had: maintenance fees, minimum balance.. My guess is that I had FISHY screaming all over me. So even when I did, I had to say it as if its hypothetical!
To which the forex guy blamed the bank’s policies on the Govt being a major shareholder (he was backing me up-I guess he’s contemplated being one of us at some point, ama?).
But this was not before engaging me on some patriotism crap (U slit my veins and I bleed KENYA, don’t get me wrong) to which I questioned CBK’s Dollar Reserves, and he was back with another one on institutions protecting the common mwananchi. Too bad for him, am a proud common mwananchi and that sounded was outright patronage. Long story short, he recommended the 2 very precise ones that offered it!!!
Down to the nitty gritty, all 4 wanted evidence of the source of my currencies of which my trading history, complete with transaction documentation couldn’t count.
All this twisted events and others on forums have left me quite worried (for starters am clearly still wide awake at this hour weighing my alternatives!!).
I’ve heard before, that there is an amount of money (kind of a notional limit) that once a client exceeds in intra-day deposits, has them reported to CBK by their bank. Again, its just heresay, although I hope that I never get on the wrong side of it.
On the other hand, there is the Offshore Banking option. I wonder if its as good as they say.
I hope my initial greed leads to more and more insight.
“..stay hungry, stay foolish” the late Steve Jobs.
PS: am kinda new to blogging and fx, so lotsa apologies if I don’t conform, hope you find your way around the clutter. Otherwise feel free to add, advice, inform, warn, critique and above all inspire.
As for Ruth and other veterans(in all aspects:legal, banking, baking), I so don’t mind your 472322 cents (or is it pips) on this one 😉
kamuyu2@gmail.com
WHERE IS THE KENYA SHILLINGS IN THE MARKET TODAY.
Hi, Traders I have identified a very important development on Kenya shilling against the green buck USD/KSH, inform of chart pattern development. As you might be aware the free fall of the Kenya shilling has raised great concerns almost everywhere in the country. The blame being thrown back and forth as to who is responsible of all this depreciation.
Ksh is at a critical market level where it is very likely to reverse; based on the emerging chart pattern. Kenya shilling is badly over sold and dollar momentum is largely lost hence volatility reduction. Another important observation is that the shilling is in its FIFTH ELLIOT WAVE of the last 90 days of trading or so which clearly point out reversal is eminent.
Due to the volatility in the previous sessions representing the volumes traded; we might experience a drastic reversal back to 87.00 to 78.00 levels however, that will still remain largely a market correction in respect to market outlook.
Reversal confirmation will be clear if the kshs regains its value to exchange below 100.00 against the green buck. However we will wait to see if our weak shilling bounces back, but before all this we should allow exchange rates as high as 107.00 as within the current range to allow all the buy positions to be absorbed by the market to create demand imbalance resulting to a reversal.
I feel like I have a lot to say about the Kenya shilling, but I’m not a good writer. What I can say is if you have a way to trade ksh I think it will be a good to buy currency if it closes below 100.00 marks. Otherwise as a wise trader you need to keep an eye on oil prices because the shilling in negatively collorated to oil (Kenya imports oils) and finally keep checking our stock market (NIC) it a good indicator of our currency during both good and bad times of our economy.
If I get time I will try to write about Nairobi stock market trading in terms of which it good to buy, why and what time, thanks for taking time to read my article.
Hi guys, I hope you are all well and successful in your trading as every trader’s dreams are. I just want to comment about an article I wrote on October 10th, (see it above) about usd/ksh as you may have noticed ksh has gained significantly as I expected today exchanging at sh85 against the dollar which is indeed a great thing for our country I’m still expecting further gains as I predicted in October. About stocks I’m yet to post any NIC trading recommendations so far because the stocks have generally been bearish, but we may be headed for great buying times as most stocks seems to have touched the floor. You can get prepared with some cash ready to invest on some of these securities.
At the mean time I’m thinking on how I can share with you people some of my forex trading signal to help you pick winning trades in your daily trading and also learn from best practices in trading. I will try to link you up with my system when is ready.
Regards.
5 Golden Rules To Forex News Trading
1.Forex trading is futures trading.
2.Market will always price in future events.
3.Perception is everything.
4.Buy on rumor, Sell on news.
5.Market will always exaggerate.
Don’t just trade the technical but have in mind what fundamental trading is.
PPI -> CPI: A high PPI will affect market sentiment towards a better CPI release.
Retail Sales -> GDP: Retail sales in emerging countries such as the US makes up about 2/3 of the market. If Retail Sale is good, then possibly we will see better GDP.
Unemployment, Jobless Claims, Unemployment rate -> Retail Sales: If people are losing jobs, they will not have money to spend at the retail levels, therefore affecting the GDP as a whole.
Housing Data -> Durable Goods: Especially in the U.S., a higher housing data will have a positive effect on durable goods because more people buy new houses equals to more people buying new appliances.
PMI -> GDP and General Economy: Purchasing Manager Index, such as UK Manufacturing PMI, U.S.’s ISM Manufacturing PMI, Canada’s IVEY PMI, all have an effect on the future GDP and the health of economy.
ADP -> NFP: U.S. ADP has an impact on the expectation of NFP. But if we get an extremely out of norm reading, like NFP is expecting -50K and we get a +80K on ADP, then traders will probably just ignore this, thinking it is probably a mistake.
Market will always price in future events.
hi mafans ….am a forex trader and trainer i wanaa teach u new tradirng dynamics to enable u have astress free money making venture….my fees are very affordable and my training
hours are very flexible…dont just be broke…
Hi , i would like to say trading forex is sweet ooh ,its the largest financial market in the world,the masses are deceived to trade shares,bonds etc.Try forex and you will never look back,but you have to know what you are doing,one -don’t over leverage your account,two-don’t be greedy ,three- as a newbie trade only daily time frames,four-keep it simple ,forget what they told you about indicators .Personally i only interpret what’s in the chart,use the demand and supply points,a little of fibonacci numbers and voila !
Let them compare trading shares in kenya n trading forex.
Hi Mike, I like your comments. I would wish to be trained. Can you give me yoiur contacts we talk? My contact is 0734623271.
hi traders …Friday as usual very slow and unpredictable but the euro is managing to put very good entries especially the buys any currency pair paired with euro is doing great….but remember the market is risk appetite and thus its trying to trade with high currencies ….learn forex and and be financially independent.
Ruth made me what i am today by teaching me most of the forex concepts that know of….Ruth thank you so much.I am a forex trader based in Nairobi with over 2 years in forex and am looking for a serious partner to form a trading unit where we will b analyzing the market and drawing unit conclusions in regard to what activity we should undertake.S/he must have passion for forex n a huge risk taker n beside that must have the technical and fundamental knowledge about forex.
Karanja, I thank you for the kind remarks. I am glad i was of good help to you because my success level depends on the success of my clients. I wish you well in forex and in all your endeavors.
I would like to partner with anyone who does forex trading? I have the capital but I dont have the time to monitor the trading trends and all. Talking USD1k >. Anyone willing to take this on, contact me on email with your proposals.
Hallo Knique ,
Kindly read one of my articles in this website here, “what is the future of forex trading in kenya” and there you will be able to get in touch with me. Here is the link http://likechapaa.com/2011/11/what-is-the-future-of-forex-trading-in-kenya/ . I trade forex on full time basis and I will therefore help you out. We will discuss more after that. Hope to hear from you soon.
regards
patrick
I manage the capital in your own account and pay me after you withdraw profit on monthly basis. All is in your account.
Well anyone who wants to learn how to trade please contact me. What we shall show is real time data. Only one catch you need to have a good balance on your account to be a sucessful trader. Our courses are based in Dubai. We will also allow you and show you back tested data wince 1973 until todate on all the commodities and also forex. You shall be shown methods which have been proven in the real world. Course Costs is USD 50,000 and you need to take a flight to Dubai for 4 days. You shall be taught and shown on one to one basis how to trade. we shall also provide you an Apple Air laptop pay for your accomodation in Dubai and also provide you a software which shall show you signals as when to trade. If you are serious and have USD 100,000 where you shall pay USD 50,000 for the course and rest you shall open a trading account with balance USD 50,000 and get monthy returns 25%.
Guys/Girls if you are serious email me and we shall show you the correct way to trade sucessfully and consistantnly. this is not a game or scam.
Vishal.
Which Kenyans are you targeting, Mr. Vishal?
Sorry, we are on the world wide web and thus Mr Vishal you have cast your net wide. But if you are targeting Kenyans, who are the majority visitors to this site, I don’t think you are in luck. Expecting them to cough KSh 4.5 million for a 4 day Forex course in Dubai is quite something. They can get the same training locally for less than 1% of what you are asking! Some of them, who are already doing fine on FX trade are even offering free training to their colleagues! That’s the spirit around here, Mr Vishal. Good luck, though!
hi,i have noticed a trend in the local daily for the forex exchange rates.for example i noticed that Kenya Commercial Bank sells the sterling pound at 140.5 and National Bank buys it at 156.56.but on physical appearance at the bank the rates were saying something different!why is this so?i would like to make some cash with forex how do i do this?.rsvp
Hi Nturibi,
That would not be the best way to trade forex . You trade forex pairs but not one currency. e.g EUR/USD and not ksh in isolation. the rates change in seconds, so when you see the average prices on the newspaper or TV, that does not mean that that is what you will get when you go to the bank because demand and supply will be different by the time you make it to the bank. Read this article on what is the future of forex in kenya here in this website and then let me know. http://likechapaa.com/2011/11/what-is-the-future-of-forex-trading-in-kenya/ regards and wish you success.
Hi Patrick,
Been trying to register at Kenya Forex Answers to enable me access the lessons without much success. Can you please guide me.
Hallo. You can access all the lessons there now. just go to the website and click on lesson one.
Hi
Am anew trader with forex and have great passion to make high yields .Hope to venture in successfully.
High guys! High Ruth! This is Eunice Mungai, am so glad to see you over here. Esther is currently my client and is now demo trading. It’s encouraging to read positive comments on forex from fellow kenyans. See you around.
Forex Trading is a Business just like any other and does require preparation. There are so many people who are expressing their interest here as well as in other websites or offline of their interest to learn forex trading. That is good and it is possible to join the largest market in the world and manage to take good profits out of it. The major reason as to why beginners often face a lot of difficult making profit in forex is basically lack of training and a mentor; or should I say, someone who has the knowledge of forex trading but has seen the market open on January and close in December for more than 2 years. I say 2 years because there is a lot that happens in this market and it is often estimated that the normal learning curve for a beginner without training is 2 calendar years. That is discouraging for the highly motivated beginners who want to become millionaires within a month but it remains to be a fact. I wish all of you who are planning to start on forex trading abundant success. If you are already trading profitably, congrats for that. To avoid many pitfalls that other beginners have fallen into in forex, it is highly important that you master technical analysis and trade profitably in a demo account before you can consider the option of trading with real money. Kindly do not “burn” your money in forex by attempting to trade live if you do not have the right skills for that. It would be better if you just left the money in your bank account because you might need it when you learn how to trade profitably. There are so many incidences of people losing real money as they learn trading and only after they have mastered the art of forex trading, do they find that they have got nothing left in their account to continue trading profitably. I wish you all success in forex trading and as we look forward to 2012, you can take this December to arm yourself with better skills on forex trading. I trade using Andrew’s Pitchfork, Bollinger Bands (1 &2 standard deviation), pivot points (weekly and daily) as well as candlestick patterns. Should you wish to learn my strategy, you can call me on 0727292960. I will be glad to help you out in picking profitable trades.
Thanks Patrick. You seem quite positive, informative, and sincere. You also appear to know the stuff very well and your approach looks quite professional. Hope most of us beginners will benefit from your wide and deep knowledge of this subject, sincerity and willingness to share.
All the best.
Davis
Thanks Davis. There was a time I knew nothing about forex and having been in the market for some years now, it is good if I can also share the same knowledge that I was taught and which I have gained with time. Join the forex school and I wish you all the best in it.
Hi patrick,am impressed by your post and you seem to have great mastery in forex.
I am a newbie and would like some guidance from you regarding how to start,what to read,demo account….i will give you a call.
Thanks
Thanks Kevin and I wish you success in advance.
Hi Patrick I am still in Collage here in twn NBI and almost out of it am planning to start a forex training and begin thereafter I know being fresh from college sounds right to you that i may not be financially stable but will pull resources that i have to this biz I kindly need your assurance that you will help me with skills to get started and guide me until am fit will u Patrick? I have saved your cell phone no. thank you for the informative comments regarding forex
Hallo Sang,
I can offer you free training and guidance. All you need to show is your commitment into it. You can contact me for the same. My number is on the above post.
regards
i have all read all this fascinating stuff about the Forex trading online. am very interested as i have already enrolled to a certain broker online. the broker sent me a manual to read about trading on Forex, but to me its too complex and has alot of information to digest all together. i need a bit knowledge on how to trade. pliz help.
hi maze its my first time seeing to much comments about forex from guys in Kenya Ruth, Kevin so so seriously that is what i want to do in my life i studied forex last year but i was i like am the only one doing this thing coz when ask around most people r like those are scams, nway me i want to quite my job n do forex n i need some one advice that what am thinking is it wise ama ni ufala coz maze i feel forex being employed maze zii
Hi Andrew,am gatu I learned forex trading for a while but am doing it full time and am training.what i would say is that do not leave your employment yet because once you live it there is no turn back,since you learned it start training everyday create time(strike to it) till you perfected the art the type of strategy you will use,get your trading plan dnt trade to much currencies at once use two or three.dnt share it to much keep on smiling at wrk and when you leave you will have saved some capital to push you through a few much all the best Andrew .for more infor forexgear@yahoo.com
i enrolled in http://www.instantfxsignals.info for Forex signals and they are really accurate. they are straight forward and saves me a lot of time for analysis and prediction. i can now trade and go for work since i just need to login look at the signal table and excuate the trade set limit and profit point and go to work. its really fun and earn. they are so accurate that i do not need to do any other analysis. they are cheapest Forex signals i have ever come ac cross. for only $19.99 per month(Google other Forex signal providers and see they are in the range of $150-$1500 per month) what a good choice.
I want to start F.T and wish I can get more knowledge on it. seems to be a good idea to increase your income.
Forex is an opportunity for many but only for those who size up on it. it been a race come down on how you have prepared, your strategy and how you will excite the finish.for those who want to do it just do it,those who are in it come up with great ideas,those who are following on the side line learn and join.
regards fellow trader